Hi Keiko
Hate to say dont have any clients who are looking at disposing a Company but your Accountant may have some.
Just need to ensure that Company is clean skin and carries no baggage.
Richard Taylor | Australia's leading private lender
Thanks Richard,
Anyone else have one
Maybe you should ask the help of a mortgage broker to help you find a suitable lender who is willing to refinance your loan. You just haven't found the right broker yet….
I don't have any problem getting loans, I need it for another reason
I dont understand why you just dont go through another major bank, as the LVR is under 60%.
How would say Westpac, Commonwealth, St George, etc know that Special Agent has been declined by ANZ?
I understand they could see that an application was lodged with ANZ on their Credit Report, but my question is how would these big banks know if he/she has been declined by ANZ?
Because they dont offer a lodoc PAYG loan.
Richard Taylor | Australia's leading private lender
Richard,
you meant ANZ is the only one who does it currently Low Doc loan with PAYG?
Yes GOM and that will almost certainly disappear when the new National Credit Laws come in.
Richard Taylor | Australia's leading private lender
I have ended up refinancing with Better Mortgage Management who under their mortgage management have have a low doc PAYG product.
What kind of intrerest rates did you end up paying??
ANZ is probably the better option though
Secret agent the better mortgage management loan is thru Adelaide Bank and still requires you to state an income.
The income you declare is what the Bank will accept so if your Broker must have manupulated the stated income to suite the servicing criteria.
Adelaide Banks rate is 1% higher than the Anz rate but in saying that the Anz product is available across their complete suite of loans.
Richard Taylor | Australia's leading private lender
Qlds007 wrote:Secret agent the better mortgage management loan is thru Adelaide Bank and still requires you to state an income.The income you declare is what the Bank will accept so if your Broker must have manupulated the stated income to suite the servicing criteria.
Adelaide Banks rate is 1% higher than the Anz rate but in saying that the Anz product is available across their complete suite of loans.
If the broker done this wouldn't he get caught out at some stage or when his loan needs to be refinanced
and Iam assuming he will be stuck if he wanted to buy his next property unless his broker put enough serviceability down to cover a couple of propertiesYes happens all the time.
Richard Taylor | Australia's leading private lender
Qlds007 wrote:Hate to say i think your Broker has now blown the deal for you as this will show on your Credit Report.Altenative is to look at a Nodoc deal where no evidence is required however interest rates will be higher and you are pboably better off staying put.
No docs still around thought they were a thing of the past?
No Docs are still around. But there are not many and the rates and conditions are terrible.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Yes as Terry mentioned you are looking at between 7-8% for Lodoc 1 day + from 60-80% and Nodoc probably 7.5-9% for upto 70-75% LVR.
Richard Taylor | Australia's leading private lender
How do you get investment return by using low doc or no doc?
unless you have high growth and high rental return.. otherwise futile exercise
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